The Export-Import Bank awarded yesterday to American Israeli Paper Mills, Ltd., a $3, 000, 000 credit to assist in financing purchases of pulp paper and manufacturing equipment in the United States. The loan will be repayable in 14 semi-annual installments, beginning in 1961.
The loan will be applied to the purchase of $4, 800, 000 worth of American equipment. The balance will be obtained through credits from United States suppliers and from the sale of stock, according to a spokesman for American Israeli Paper Milis. The company has already embarked on a $10, 300, 000 expansion program.
JTA has documented Jewish history in real-time for over a century. Keep our journalism strong by joining us in supporting independent, award-winning reporting.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.